Interest rates: Better to buy a home now or wait?NEW YORK – May 10, 2018 – With heightened talk of rising interest rates, many prospective homebuyers are understandably concerned about whether'
Would You Qualify For A Mortgage Now
“The high median credit score is due to many millennials believing they won’t qualify with the score they have - and are therefore waiting to apply for a mortgage until they have the score they think they need.” (emphasis added)
“The observed decline in originations could be a result of potential applicants being either too cautious or discouraged from applying, more so than tight underwriting as the culprit in lower mortgage activity.”
So what does this all mean?
“Many potential home buyers are 'disqualifying' themselves. You don't need a 750 FICO Score and a 20% down payment to buy.”
Marc Joseph, Broker / Owner Our office is the leader and expert in the foreclosure market. As the broker for over 27 years in Lee County, I have been interviewed by the following media sources, NPR....